66738
Gold Coin Continues Rally
Economy, Business And Markets

Gold Coin Continues Rally

Emami gold coin kept surging in Tehran’s market on Sunday after registering a three-month record high the day before.
According to Tehran Gold and Jewelry Union’s website, the coin gained 40,000 rials ($1.1) and fetched 12,200,000 rials ($326) after a big jump of 160,500 rials ($4) on Saturday.
The other benchmark coin, Bahar Azadi, also witnessed an increase of 40,000 rials ($1.1) to reach 11,790,000 rials ($314.4).
Half Azadi and Quarter Azadi coins increased by 30,000 rials and were traded for 6.4 million rials ($180) and 3.7 million rials ($98.9), respectively.
Some analysts attribute the gold coin bull run to the proximity of Eid-al-Fitr, which will mark the end of the month of Ramadan next week. Demand usually drops during the fasting month, but rises after the month ends.
Another group of market players reckon that as the delivery date of future gold contracts draws near, speculators are attempting to drive up prices.  
In the foreign exchange market, the rial had its biggest fall against the US dollar since May 22. It was quoted at 37,500 to the greenback in Tehran’s open market on Sunday.

Short URL : https://goo.gl/2AhKCH
  1. https://goo.gl/7MpVhP
  • https://goo.gl/KzCwZ7
  • https://goo.gl/RqeSv9
  • https://goo.gl/t7qfhp
  • https://goo.gl/mrDANc

You can also read ...

Iran Economic News Headlines for Today - October 15
1. Mohammad Baqer Nobakht, the head of Plan and Budget...
Iran, India Aim to Accelerate Chabahar Project Before US Curbs
India and Iran have renewed efforts to operationalize one...
Ban on Iran Imports From Farah Checkpoint to Be Lifted
Afghanistan Customs Department has agreed to lift the ban on...
Iran Mineral Trade Surplus Rises to $3.5 Billion
Iran's trade surplus of mineral products increased notably to...
Tehran Stocks Regain Composure on Big Firms Earnings
After losing more than 6,000 points in the past two days,...
Iran, Japan to Train Afghan Customs Staff
The Islamic Republic of Iran Customs Administration has signed...
Iran Plans Barter Trade With Africa - Interview
As a bid to ease trade with African countries, the Iran...
Cars to Cost More in Iran
Automakers will soon receive the okay from relevant...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus